In several high-profile decisions in recent years, the U.S. Supreme Court has affirmed and strengthened the rights of corporations as legal persons. In Citizens United (2010), the Court held in favor of the free speech rights of corporate entities. In Hobby Lobby (2014), the Court found in favor of closely-held […]
Category: Tax Controversy
Getting a phone call from someone who claims to work for the Internal Revenue Service (IRS) is a stressful event. Unfortunately, a number of less than desirable characters know this and will attempt to take advantage of the stressful situation and gather personal information that could be used in a […]
It’s been 25 years now since the U.S. Supreme Court held that states could not impose the obligation to collect sales-and-use taxes on out-of-state sellers who lack a physical presence in the state. Back then, the retailers in question were mail order companies. Now of course it’s an online-driven sales […]
This week brought the Trump administration’s one-page opening salvo in what is likely to be contentious debate over reform of federal tax system. A key part of the proposal is to reduce business taxes from 35 percent to 15 percent – even for small, unincorporated business whose owners pay taxes […]
It isn’t easy being a landlord. Trying to keep customer-tenants satisfied enough to renew their leases is often a frustrating and not necessarily lucrative endeavor. The tax code often isn’t much help either, with arcane rules limiting the ability of real estate owners to deduct losses. These rules concern what […]
On the campaign trail, Donald Trump said he would get rid of the federal estate tax if elected president. So far, it’s still around. To be sure, the estate tax only affects a small percentage of estates. But it’s part of a larger tax-planning picture that also includes two other […]
At first, it sounds like a science fiction scenario: computers doing taxes for other computers, namely the robots who have taken human jobs. Consider, however, the two tech trends we will report on in this post. The first trend is the acceleration of advances in artificial intelligence (AI) and automation […]
As a pastor or a church council member, you know very well how important the tax break on clergy housing benefits is. To be sure, many ministers would probably trade the break for a FICA payroll-tax match from their employers and not having to pay self-employment tax. Not taxing a […]
Like other fields of human activity, tax law has its own specialized vocabulary. Sometimes the words used have very particularized meanings that require some explanation to make sense. Consider the term “border adjustments.” The term is in play because the U.S. House of Representatives is considering a plan that would, […]
When active duty and reserve personnel are added together, Texas has more than 173,000 military personnel. This is the second most of any state, behind only California. There are of course also many veterans in Texas. If you are a service member or former service member, or are from a […]